, Taiwan

Taiwan insurance industry suffers double digit drops in April

Life insurance enterprise fell by 13.9% whilst decreased by 16.5%.

Both Taiwan’s life and non-life insurance saw double-digit drops in April, according to statistics released by the Financial Supervisory Commission (FSC).

Life insurance industry’s pre-tax profit reached $6.07b, a decrease of 13.9% compared to the previous year. Non-life went down 16.5% to $230m, a decrease of $45m compared to the same month last year.

Total owners' equity of insurance enterprises at the end of April 2022 was $63.48b. Owners' equity of life insurance enterprises was $58.44b, going down by 32.3% compared to last year, whilst owners' equity of non-life insurance enterprises was $5.04b, going down by 1.7%.

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